Problem:

Question 1. Explain how patents work. Which legal tests must be satisfied in most countries in order to meet patient requirements?

Question 2. What are some of the most important factors that affection adoption? Why is it important to consider individual characteristics when introducing a new innovation?

Question 3. The author explained that the idea of a lone inventory pioneering his or her way to market success is something of a myth? Do you agree with this statement? Why or why not? Give examples of products or ideas that have been successful to justify your point.

Question 4. What are the different challenge to expect in the set-up operating, and sustaining (or closure) stage in managing innovation networks? Give an example of a product or program and the challenges it faced in one of these three areas.

Question 5. Give an example of a consumer market survey in which the company was able to obtain information to successfully launch a new product. Is there a best way to identify niches? Explain.

Question 6. What are the key components of a business plan? Why are they important?

Question 7. Explain the differences between functional teams and cross-functional teams. What did the study determine about the effectiveness of cross functional teams?

Question 8. Explain the importance of brainstorming. What are the three most important approaches to brainstorming? Explain a situation in which brainstorming could achieve innovative results

Question 9. What are the four arguments for pushing for greater levels of networking in innovation? Which one do you find most persuasive and why?

Question 10. Explain what it means to be a venture champion? What are some of the factors that influence the decision to establish a new venture? What do we know about the background of individuals who have a propensity to develop new ventures?

Provide thorough explanation of every question given in the problem.